Ginkgo scores an eye-popping valuation
Ginkgo Bioworks bills itself as the “organism company,” custom-designing cells to transform everyday yeast and bacteria into living factories that produce flavors, scents, and other products. Maybe you’ve heard of it.
You’ll be hearing more, now that Pitchbook values the startup at about $4.8 billion, the Boston Globe’s Jonathan Saltzman reports. PitchBook provided the figure as Ginkgo announced today that it raised another $290 million from investors, bringing the startup’s total funding to $719 million. That makes Ginkgo the second-most valuable VC-backed biotech startup in the U.S., behind Samumed in San Diego, which PitchBook says is worth $12.4 billion.
Jason Kelly, Ginkgo’s CEO and cofounder, said the firm plans to use the cash to expand its laboratory and buy more robots for use in production.
That’s a lot of robots.
You’ll be hearing more, now that Pitchbook values the startup at about $4.8 billion, the Boston Globe’s Jonathan Saltzman reports. PitchBook provided the figure as Ginkgo announced today that it raised another $290 million from investors, bringing the startup’s total funding to $719 million. That makes Ginkgo the second-most valuable VC-backed biotech startup in the U.S., behind Samumed in San Diego, which PitchBook says is worth $12.4 billion.
Jason Kelly, Ginkgo’s CEO and cofounder, said the firm plans to use the cash to expand its laboratory and buy more robots for use in production.
That’s a lot of robots.
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